India's economy is projected to grow by 6.7% in the financial year 2024-25, according to the Asian Development Bank (ADB). The report highlights that strong domestic consumption and a rise in private investment will be the key factors driving this growth.
The ADB's latest forecast suggests that India remains one of the fastest-growing major economies, despite global economic uncertainty. Factors like improved manufacturing output, government-led infrastructure spending, and a steady services sector are contributing to this positive outlook.
However, the report also mentions some challenges. Rising food prices, uneven rainfall, and global geopolitical tensions may pose risks to inflation control and overall economic stability. Still, India's strong macroeconomic fundamentals and policy support are likely to help manage these concerns effectively.
Overall, the ADB remains optimistic about India's medium-term economic trajectory, expecting the country to maintain solid momentum through 2025.